Report: Apple Working on Cheaper iPhone

DON EMMERT/AFP/Getty Images(NEW YORK) -- Apple is said to be working on a cheaper version of the iPhone.

Citing people briefed on the matter, the Wall Street Journal reports the lower-end smartphone could resemble the standard iPhone, "with a different, less-expensive body."  One of the options being considered is making the phone's shell out of plastic instead of aluminum.

One of the sources tells the newspaper the less expensive iPhone may launch later this year.  However, no decision has yet been made on whether to go ahead with production.

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